candycorn
Diamond Member
What do you think is an 'acceptable' deficit?
The FY2009 deficit was $1413B - what will you cut to get down to that 'acceptable' deficit?
Note that to asnwer the 2nd question, you must include dollar amounts and explain where those figures came from.
That is:
Specify what programs you'd cut/taxes you'd raise, how much they would save/generate, and how you know.
Not sure how accurate it is but here is a tool I found on the Internet:
National Budget Simulation
I used the long form and did the following:
Spending ($2557.63 billion: cut $115.36 billion)
Military Spending ($377.98 billion: cut $68.12 billion)
$106.57 billion .... Military personnel (No Change)
$153.62 billion .... Operation and maintenance (No Change)
$80.84 billion ..... Procurement (No Change)
$0 billion ......... Research, development, test and evaluation
Cut $68.12 bil. from base of $68.129 bil.(-100%)
$16.15 billion ..... Military Construction, Family Housing and Other (No Change)
$17.99 billion ..... Atomic Energy Defense Activities (No Change)
$2.81 billion ...... Defense Related activities (No Change)
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Iraq and Afghanistan Operations ($80.35 billion: cut $31.49 billion)$73.5 billion ...... Military Operations
Cut $31.49 bil. from base of $105.0 bil.(-30%)
$6.85 billion ...... Reconstruction aid (No Change)
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Military Retirement ($115.48 billion)$40.83 billion ..... Military retirement (No Change)
$36.34 billion ..... Income security for veterans (No Change)
$3.24 billion ...... Veterans education, training, and rehabilitation (No Change)
$34.35 billion ..... Hospital and medical care for veterans and retired military (No Change)
$0.72 billion ...... Housing and other veterans benefits and services (No Change)
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International affairs ($15.8 billion: cut $15.78 billion)$6.5 billion ....... International development and humanitarian assistance
Cut $6.49 bil. from base of $12.996 bil.(-50%)
$4.73 billion ...... International military aid
Cut $4.73 bil. from base of $9.466 bil.(-50%)
$3.99 billion ...... Conduct of foreign affairs
Cut $3.97 bil. from base of $7.974 bil.(-50%)
$0.58 billion ...... Foreign information and exchange activities
Cut $0.56 bil. from base of $1.154 bil.(-50%)
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General science, space, and technology ($23.97 billion)$5.62 billion ...... National Science Foundation programs (No Change)
$3.44 billion ...... Department of Energy general science programs (No Change)
$14.91 billion ..... Space flight, research, and supporting activities (No Change)
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Non-Defense Energy Spending ($2.12 billion)$0.73 billion ...... Energy supply (No Change)
$1.03 billion ...... Energy conservation and preparedness (No Change)
$0.36 billion ...... Energy information, preparedness, & regulation (No Change)
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Natural resources and environment ($31.16 billion)$5.45 billion ...... Water resources (No Change)
$9.07 billion ...... Conservation and land management (No Change)
$3.12 billion ...... Recreational & Park resources (No Change)
$8.42 billion ...... Pollution control and abatement (No Change)
$5.1 billion ....... Other natural resources (No Change)
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Agriculture ($26.02 billion)$21.73 billion ..... Farm income stabilization & crop insurance (No Change)
$4.29 billion ...... Agricultural research and services (No Change)
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Commerce and Housing Loan Programs ($6.82 billion)$-4.28 billion ..... Federal Housing Loan Programs (No Change)
$2.17 billion ...... Postal service (No Change)
$-0.96 billion ..... Deposit insurance (No Change)
$7.96 billion ...... Universal service fund (No Change)
$1.93 billion ...... Other advancement of commerce (No Change)
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Transportation ($70.68 billion)$36.51 billion ..... Highways and highway safety (No Change)
$8.51 billion ...... Mass transit (No Change)
$0.61 billion ...... Railroads (No Change)
$17.26 billion ..... Air Transportion (No Change)
$7.37 billion ...... Water transportation (No Change)
$0.42 billion ...... Other transportation (No Change)
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Community and regional development ($19.1 billion)$6.25 billion ...... Community development (No Change)
$2.86 billion ...... Area and regional development (No Change)
$9.99 billion ...... Disaster relief and insurance (No Change)
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Education ($64.07 billion)$38.57 billion ..... Elementary, Secondary & Vocational education (No Change)
$22.27 billion ..... Higher education (No Change)
$3.23 billion ...... Research and general education (No Change)
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Training, labor and unemployment ($47.81 billion)$6.88 billion ...... Training and employment (No Change)
$1.6 billion ....... Labor law, statistics, and other administration (No Change)
$39.33 billion ..... Unemployment compensation (No Change)
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Non-Medicare Health Spending ($253.32 billion)$192.72 billion .... Medicaid grants (No Change)
$6.23 billion ...... State Children's Health Insurance (No Change)
$3.17 billion ...... Indian health (No Change)
$3.24 billion ...... Substance abuse and mental health services (No Change)
$4.7 billion ....... Disease control, public health and bioterrorism (No Change)
$29.36 billion ..... Health research and training (No Change)
$3.01 billion ...... Food safety and occupational health and safety (No Change)
$10.89 billion ..... Other health care services (No Change)
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Medicare ($345.76 billion)$182.76 billion .... Hospital insurance (HI) (No Change)
$115.14 billion .... Supplementary medical insurance (SMI) (No Change)
$46.7 billion ...... Prescription drug benefit (No Change)
$1.16 billion ...... Health care fraud (No Change)
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Civilian Retirement (Social Security excluded) ($72.02 billion)$4.89 billion ...... Civilian retirement and disability insurance (No Change)
$58.22 billion ..... Federal employee retirement and disability (No Change)
$8.91 billion ...... Federal employees' and retired employees' health benefits (No Change)
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Aid to Low-Income Families ($206.78 billion)$38.45 billion ..... Housing assistance (No Change)
$37.58 billion ..... Food stamps (No Change)
$19.3 billion ...... Other nutrition programs (WIC, school lunches) (No Change)
$38.66 billion ..... Supplemental security income (SSI) (No Change)
$18.21 billion ..... Family support payments (TANF) (No Change)
$34.05 billion ..... Earned Income Tax Credit (EITC) (No Change)
$13.15 billion ..... Child tax credit (No Change)
$4.8 billion ....... Child care funds (No Change)
$2.58 billion ...... Other aid to low-income families (No Change)
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General Family Support ($25.62 billion)$6.56 billion ...... Foster care and adoption assistance (No Change)
$2.92 billion ...... Child support and family support programs (No Change)
$16.14 billion ..... Social and family services (No Change)
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Social security ($544.82 billion)$454.4 billion ..... Old-age and survivors insurance(OASI) (No Change)
$90.42 billion ..... Disability insurance (DI) (No Change)
Administration of justice ($43.1 billion)
$11.35 billion ..... Federal law enforcement (No Change)
$10.46 billion ..... Border security and immigration (No Change)
$10.91 billion ..... Federal litigation and judicial activities (No Change)
$6.16 billion ...... Federal prison system (No Change)
$4.22 billion ...... Criminal justice assistance (No Change)
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General government administration ($17.76 billion)$3.67 billion ...... Legislative functions (No Change)
$1.14 billion ...... Executive office programs (No Change)
$9.8 billion ....... IRS & other fiscal opertations (No Change)
$3.15 billion ...... Other general government (No Change)
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Net_interest_long ($211.08 billion)$211.08 billion .... Net Interest (No Change)
Undistributed offsetting receipts and allowance ($-43.99 billion)
$-43.99 billion .... Undistributed offsetting receipts and allowance (No Change)
Tax Expenditures and Tax Cuts ($878.66 billion: cut $196.46 billion)
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2001 and 2003 Tax Cuts ($101.58 billion: cut $193.3 billion)$0 billion ......... Benefits for Richest 1% of Taxpayers
Cut $116.95 bil. from base of $116.9562 bil.(-100%)
$0 billion ......... Benefits for Next Richest 4%
Cut $28.86 bil. from base of $28.8708 bil.(-100%)
$29.46 billion ..... Benefits for Next Richest 15%
Cut $29.45 bil. from base of $58.92 bil.(-50%)
$34.88 billion ..... Benefits for Next 20% of Taxpayers
Cut $8.71 bil. from base of $43.6008 bil.(-20%)
$37.24 billion ..... Benefits for Bottom 60% of Taxpayers
Cut $9.3 bil. from base of $46.546 bil.(-20%)
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Corporate Tax Breaks ($57.21 billion: cut $3.14 billion)$12.59 billion ..... Untaxed Foreign Profits
Cut $3.14 bil. from base of $15.740 bil.(-20%)
$9.87 billion ...... R&D Tax Breaks (No Change)
$4.05 billion ...... Energy, Mining and Timber Tax Breaks (No Change)
$9.93 billion ...... Tax Free Bonds (No Change)
$20.77 billion ..... Other Corporate Tax Breaks (No Change)
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Personal Business & Investment Benefits ($86.71 billion)$30.38 billion ..... Lower tax rates on capital gains (excluding housing) (No Change)
$28.76 billion ..... Step-up basis of capital gains at death (No Change)
$23.01 billion ..... Tax-Free Bonds (No Change)
$1.36 billion ...... Enterprise & Empowerment Zones and New Markets credit (No Change)
$3.2 billion ....... Other personal investment tax breaks (No Change)
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Pension & Retirement Deductions ($168.47 billion)$51.05 billion ..... Employer-paid Pensions (No Change)
$58.12 billion ..... 401Ks & Keogh plans (No Change)
$7.31 billion ...... IRAs (No Change)
$29.48 billion ..... Group and personal life insurance benefits (No Change)
$19.77 billion ..... Untaxed Social Security benefits (No Change)
$2.74 billion ...... Other retirement benefits (No Change)
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Health Insurance Tax Benefits ($140.99 billion)$125.69 billion .... Employer-paid Health Insurance (No Change)
$4.33 billion ...... Self-employed medical insurance premiums (No Change)
$1.83 billion ...... Medical Savings/Health Savings Accounts (No Change)
$9.14 billion ...... Deductibility of medical expenses (No Change)
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Housing tax benefits ($163.71 billion)$76.03 billion ..... Mortgage Interest (No Change)
$14.83 billion ..... Deductibility of property taxes on homes (No Change)
$36.27 billion ..... Capital gains exclusion on home sales (No Change)
$29.72 billion ..... Exclusion of net imputed rental income on owner-occupied homes (No Change)
$2.11 billion ...... Housing bonds & low-income housing investments (No Change)
$4.75 billion ...... Exception from passive loss rules for $25,000 of rental loss (No Change)
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Other individual deductions and exemptions ($159.99 billion)$37.89 billion ..... Charitable contributions (No Change)
$34.62 billion ..... State and local taxes (w/o home property) (No Change)
$6.55 billion ...... Soldiers and veterans tax benefits (No Change)
$5.94 billion ...... Workmen's compensation (No Change)
$14.01 billion ..... Education deductions and credits (No Change)
$32.81 billion ..... Child credit (No Change)
$2.81 billion ...... Child care credits and deductions (No Change)
$2 billion ......... Deduction for the blind and elderly (No Change)
$7.86 billion ...... Social Security benefits for disabled and survivors (No Change)
$3.76 billion ...... Untaxed foreign personal income (No Change)
$3.28 billion ...... Employee parking and transit expenses (No Change)
$1.25 billion ...... Adoption and foster care tax credits (No Change)
$5.42 billion ...... Earned Income Tax Credit (EITC)- revenue loss component (No Change)
$1.79 billion ...... Other fringe benefits (No Change)
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Your New BudgetBudget Totals
Old budget was $3748.1268 billion
($2673 billion in spending, $1075.1268 billion in tax expenditures and cuts).
New budget is $3436.29 billion
($2557.63 billion in spending, $878.66 billion in tax expenditures and cuts).
You have cut the deficit by $311.84 billion.
Your new deficit is $89.16 billion.
A lot of stuff I want to cut isn't on there; I didn't see the NEA for example. I didn't see a place to raise the price of postage stamps. I'd like it a bit more itemized but its important to remember that this is a 1 year budget. We need a multi-year plan set up by a commission that will be above politics (insert snicker here). But for what it's worth; theres the answer to your question.
What do you think?